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Authority Estimates That The Global Reserve Will Reach 305 GW By 2030
Apr 06, 2018

(PV-Tech) Similar to past solar PV deployments, the rise in energy storage shows a meteor trail. Bloomberg's new energy economy information estimates that energy storage will reach 305 GWh by 2030.
According to Bloomberg's new energy economy, between 2016 and 2030 the market will grow 12-fold to 125 gW/305 GW H. The research group released a new report yesterday called "Energy Storage Forecast".
Drawing on the global solar PV market between 2010 and 2015, the BNEF said the projected energy storage for that period had a "similar trajectory". Solar photovoltaic capacity has grown more than 14-fold over the five years. To facilitate expansion and integration into the mainstream market, technological investment is expected to be approximately $103 billion.

BNEF believes that the money invested is broadly spread evenly across Asia and the Pacific, Europe, the Middle East, Africa and the Americas. Nevertheless, about a quarter of the installed capacity is expected to be deployed in the United States, where 70 per cent of the installed capacity is expected to be distributed in China, Japan, India, Germany, Australia, South Korea and the United Kingdom.
"Throughout this phase, the storage of power from utilities and the back end of the meter is a key source of flexibility and critical to integrating the growing level of renewable energy," BNEF employees said in a statement. "I don't know.
Earlier this year, the International Renewable Energy Agency(IRENA) said the global power industry used about 1 GW of battery reserves. In its report, Energy Reflection 2017: Accelerating the Global Energy Transformation, IRENA estimates that batteries could hold 250 GW in 2030.